(Fortune) -- Joanne Maguire, the 52-year-old EVP, Space Systems of Lockheed Martin (Charts), ranks No. 35 on Fortune's 2006 list of 50 Most Powerful Women.

The highest-ranking woman at the world's largest defense company has aerospace in her blood: Her father also worked in the industry. Maguire, who joined Lockheed Martin in 2003, runs the $6.8 billion division that supplies equipment and services for space launches, satellites, and missile systems. In August, NASA awarded her team a $4 billion contract to build the Orion spacecraft, which will eventually replace the Space Shuttle fleet. Maguire was named to Lockheed's board of directors in 2004.

By the key criteria Fortune uses in assembling its annual list - the size, importance, and health of each business in the global economy, and the momentum of each woman's career (along with her social and cultural influence) - there's no question that the power of women in the corporate sphere is rising.

Indeed, it could be called the year of the Most Powerful Woman CEO. The top seven positions on Fortune's 2006 Most Powerful Women list are held by CEOs.

Some other powerful women on the list include: Sallie Krawcheck, Citigroup (Charts); Susan Arnold, Procter & Gamble (Charts); Charlene Begley, General Electric (Charts); Mary Minnick, Coca-Cola (Charts); Linda Dillman, Wal-Mart (Charts); and Zoe Cruz, Morgan Stanley (Charts).

Next: Full list: 50 Most Powerful Women at http://money.cnn.com/popups/2006/fortune/mostpowerfulwomen/1.html

Plus: Most Powerful Women: 10 Highest-Paid at http://money.cnn.com/popups/2006/fortune/womenpay/index.html